Transcript Introduction to Business and Marketing

Introduction to Business and Marketing


On a piece of paper, write down what you
think marketing is.
Let’s discuss what you think …
Marketing is the process of
developing, promoting, and
distributing goods and
services to meet customer
wants and needs.

NEED - something that is essential; that you
must have

Example: Water
 List
5 needs

WANT - something that you desire

Example: Soda
 List
5 wants
Private Wants
◦ Family wants new living room furniture
◦ Business wants a new computer system
Public Wants
◦ Widely shared by many people
◦ Highways, libraries, parks
◦ Paid for by local, state & federal governments

Goods and Services purchased by customers
Goods are tangible:
You can touch them

 List
5 goods
Services are intangible:
You cannot touch them!

Accounting Services
Sports Agent
 List
5 services



Exchange takes place every time something is
sold in the marketplace.
Marketing helps connect businesses to their
customers.
We experience marketing principles every day
in our lives.




How do you experience marketing in your
life?
What kinds of marketing experiences do you
encounter just through your daily routine?
On a piece of paper, write down your daily
routine. Use a timeline!
Think about how each activity you do relates
to marketing:
 Needs vs. Wants
 Goods vs. Services
 Exchanges
Turn in Activity for Class Grade
Time
Activity
6:00 AM
Wake up to
Alarm Clock
6:15 AM-6:30
AM
Drink coffee
and watch the
news
Want v. Need
Good v. Service
Exchange?
Used a good
(alarm clock)
that I purchased
to wake me up
Coffee is a
“want”- could
exist without it,
but it wouldn’t
be pleasant
Used Keurig
single service
coffee maker
Purchased
coffee at
grocery store to
have each
morning
Time
Activity
6:00 AM
Wake up to
Alarm Clock
6:15 AM-6:30
AM
Drink coffee
and watch the
news
Want v. Need
Good v. Service
Exchange??
Used a Good
(alarm clock)
that I purchased
to wake me up
Coffee is a
Used Keurig
Purchased
“want”- could
Single Service
coffee at
exist without it, coffee maker grocery store to
but it wouldn’t
have each
be pleasant
morning
6:00 am – wake up/brush teeth/shower
6:30 am – watch news/eat breakfast
8:30 am – leave house for school
8:40 am – arrive at school
9:00 am – school starts
12:43 pm – eat lunch
4:00 pm – leave school
4:30 – go to the gym
6:00 pm – eat dinner
7:00 pm – watch TV/work
10:00 pm – go to bed

Marketing Functions - All activities that allow
companies to bring products to the market
for exchange:
◦
◦
◦
◦
◦
◦
Pricing
Selling
Distributing
Promoting
Product/Service Management
Marketing Information Management